Not sure what to enter for 1098T

[ConservationKid]

Hello,

I am filing my taxes for 2022 on TaxAct.com and I am unsure how to process through my 1098 T. I was a graduate student who received tuition waivers and federal loans. My 1098 shows the amount of fees I paid (total billing minus tuition waiver). I also took out more in student loans than I needed so I could use the refunds for living expenses since the grad assistantship didn't pay much.

For Tuition and Fees not on the 1098t do I included the cost of tuition despite me getting waivers?

If I do, do I need to include them in the tuition reimbursement and refunds section? 

Would I include those student loan refunds anywhere in my taxes?

[SantinoD · Accepted solution]

Take a look at your 1098-T and check the amount in Box 1.  Also, look at Box 5 Scholarships and grants. Subtract Box 5 from Box 1, this is the amount you enter as qualified expenses paid and/or tuition paid.

The waivers should have already been removed from Box 1. You don't need to include waivers as tuition reimbursement.

Student loans are funds that you eventually will have to pay back, so you don't need to subtract what you got in student loans. Tuition and other qualified school expenses paid with student loans still count as paid expenses and can qualify for Education tax credits.

Here is more info on Education Tax credits: What education tax credits are available?

[Hal_Al]

Q. For Tuition and Fees not on the 1098t do I included the cost of tuition despite me getting waivers?

A. No.  Tuition waivers are ignored.

Q. Would I include those student loan refunds anywhere in my taxes?

A.  No. Proceeds of loans are not income, since they have to be paid back.